Stamp Duty

Calculate property stamp duty

When is Stamp Duty paid?

When buying a property over a certain price, stamp duty is payable to the HMRC 30 days from the date of completion or a fine may be imposed. Your solicitor or legal adviser should take care of this for you and ensure you don’t miss the deadline. Some buyers prefer to add on the SDLT amount to their mortgage loan. You should speak to your mortgage provider to ascertain whether this is an option.

Stamp Duty Land Tax (SDLT) is a progressive tax paid when purchasing a freehold, leasehold or shared ownership residential property over £125,000 in England, Northern Ireland and Wales (separate Land and Buildings Transaction Tax in Scotland). New SDLT rates were introduced in 2014’s Autumn Statement, introducing a sliding system based on thresholds and dependent on a property price.

Different SDLT rates and thresholds apply to non-residential property or mixed use land.

Before 2014 a single percentage SDLT was in place with buyers paying a rate based on the ENTIRE property purchase price. The new rates are now payable only on the PORTION of a property price which falls within each band. As with every tax, there are those who will be better and worse off compared to the previous system.

Who pays Stamp Duty?

Stamp Duty is paid by everyone purchasing a residential or non-residential property in England, Northern Ireland and Wales, including overseas buyers, corporate bodies and non natural persons.

Buy-to-let and second homes Stamp Duty

Since April 2016, property buyers in England and Wales have to pay an additional 3% on each stamp duty band.
Our calculator will help identify the specific liabilities to SDLT for Principal Private Residences, Buy to let or investment properties and second homes.
Contact us if you wish to discuss property investment as part of a portfolio.

Stamp Duty Calculator

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